Question : Y  Ltd. invited applications for issuing 500, 12% debentures of Rs.100 each at a discount of 5%. These debentures were redeemable after three years at par. Applications for 600 debentures were received. Pro-rata allotment was made to all the applicants assuming that the whole amount was payable with application.

Question:-  Discount on issue of debenture account will be _____.

Option 1: Debited by Rs. 3,000

Option 2: Debited by Rs. 2,500

Option 3: Credited by Rs. 2,500

Option 4: Credited by Rs. 3,000
 

Question : Y  Ltd. invited applications for issuing 500, 12% debentures of Rs.100 each at a discount of 5%. These debentures were redeemable after three years at par. Applications for 600 debentures were received. Pro-rata allotment was made to all the applicants assuming that the whole amount was payable with application.

Question:-  Discount on issue of debenture account will be _____.

Option 1: Debited by Rs. 3,000

Option 2: Debited by Rs. 2,500

Option 3: Credited by Rs. 2,500

Option 4: Credited by Rs. 3,000
 

Question : Y Ltd. invited applications for issuing 500, 12% debentures of Rs.100 each at a discount of 5%. These debentures were redeemable after three years at par. Applications for 600 debentures were received. Pro-rata allotment was made to all the applicants assuming that the whole amount was payable with application.

Question:-  When application money is received, Bank Account will be debited by ________.

Option 1: Rs. 60,000

Option 2: Rs. 57,500
 

Option 3: Rs. 57,000

Option 4: Rs. 58,500

Question : Y Ltd. invited applications for issuing 500, 12% debentures of Rs.100 each at a discount of 5%. These debentures were redeemable after three years at par. Applications for 600 debentures were received. Pro-rata allotment was made to all the applicants assuming that the whole amount was payable with application.

Question:-  When application money is received, Bank Account will be debited by ________.

Option 1: Rs. 60,000

Option 2: Rs. 57,500
 

Option 3: Rs. 57,000

Option 4: Rs. 58,500

Question : Narain Ltd. invited applications for issuing 7,500, 12% Debentures of Rs.100 each at a premium of Rs.35 per debenture. The full amount was payable on application. Applications were received for 10,000 debentures. Applications for 2,500 debentures were rejected and the application money was refunded. Debentures were allotted to the remaining applicants. 

Bank account will be debited by ___________.

Option 1: Rs 13,50,000

Option 2: Rs 7,50,000

Option 3: Rs 10,12,500

Option 4: None of the above